How having renters insurance benefits you.

If you live in an apartment, rental home, or other rented space, then you can’t afford to skip out on renters insurance.  But is this coverage really as important as people say?  If you are not convinced, then here’s are some of the ways having renters insurance benefits you.

  • It Pays for Emergency Hotel Stays

If your apartment or rental property is severely damaged, then you may not be able to stay while it undergoes repairs.  Fortunately, your renters insurance offers a special form of coverage known as additional living expenses.  This coverage will pay for the cost of temporarily living elsewhere if your rental is deemed uninhabitable.  This means things like emergency hotel stays, restaurant bills, and other living costs will be covered by your renters insurance.

  • It Covers Guest Injuries

If a guest is injured in your rental, then you are legally responsible for their damages.  This means that you are on the hook for their medical bills.  Luckily, the personal liability coverage provided by your renters policy will cover your guests’ injuries.  Additionally, your insurance will cover your legal expenses should the injured party sue you for damages.

  • It Covers Damage You Accidentally Cause

If you or someone in your household accidentally causes damages to others, then you are responsible for making the necessary repairs.  Fortunately, the personal liability coverage in your renters insurance will cover the cost of repairs or replacements that you owe to third-parties.

These are some of the surprising ways having renters insurance benefits you.  Are you interested in learning more about renters coverage?  If so, then contact the experts at John E. Peakes Insurance Agency.  Our dedicated team is eager to get you the coverage that you need today.

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